Among the most successful strategies for accumulating savings are those that involve directing a set amount of money each week, month or quarter into a bank account, retirement plan, IRA or other savings vehicle. These funds may be directed from a paycheck received from an employer or from a checking account into an investment account.

When your employer deposits your paycheck directly into your bank account rather than issuing a physical check. An employee may direct a portion of their earnings into a checking account for monthly expenses, another portion into a savings account for an emergency fund and a third portion into a retirement savings account such as a 401(k) or 403(b) plan.

Automatic savings plans

Most mutual funds and brokerage firms allow investors to set up a plan to invest a set amount on a monthly or quarterly basis. Once set up, these investments take place automatically without any further intervention by the investor.